Is renting becoming the preserve of the rich?

High net migration has led to a big jump in demand for rental properties that has pushed up the cost of rent compared to the average salary. But comparing rents to average pay is not as accurate a guide to tenant affordability as it used to be. Our analysis shows that the average household in the private rented sector is increasingly affluent. That suggests affordability is less stretched than it first appears, but also that lower income households are being priced out of the market.